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FM_ UNIFY)RM COVENANIS Borrower and Lender covenant and agree as follows: 89. 103365 1. Payomt of PristliW aM lstemil Prepsytweat and Late Charges. Borrower shall promptly pay when due the principal of and interest on the" evidenced by the Note and tiny prepayment and late charges, due under the Note. L Fsta/e far Taxes sand l atlrsiom Subject to applicable law or to a written waiver by Lender, Borrower shnll pay to Lender on the day monthly payments are due under the Note. until the Note is paid in full, a sum ( "Funds') equal to Oaatwoft of- (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) ytnrbr• keedwN payments or ground rents on the Property, if any; (c) yearly hazard insurance pmmiums; and (d) yeutSy . snartgage insurance premiums. if any. These items an called "escrow items." Lender may estimate the Funds due ore the basis otcurrent data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state aS aey (including bender if I.ender is such an institution). Lender shall apply the Funds to pay the escrow ita mn., . L Oder may not charge for holding and applying the Funds. tutalyting the account or verifying the escrow items, unless t.essder pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower ami Lender may agree in writing that interest shall be paid on the Fonds. Unless an agreement is made or appbcable law re*m interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender. "give to Borrower. without charge. an annual adiamting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. 'file Foods are pledged as additional security for the sums inured by- this Security Instrument. ument. If the amount of the Funds held by Leader. togeOw with the suture monthly payments of Funds payable PAW to the due data of the escrow itemw shall exceed the amount muired to pay the ecrow items when due, the maces "it be. at Borrower a option, either pc+ mpdy repaid to Borrowev er credited to Borrower on monthly payreents of Funds. If the amount of the Funds held by Lesser is not suRcient to pay the escrow items when due. Borrower sballt pay to Lender any amount necessary to snake up the deficiency in ime or more payments as requited by Lender. Upon payment in full of aU sums secured by this Security Instrument. Lender shall promptly refund to Borg any Funds held by lender. if under paragraph 19 the Prarmy is sold or acquired by Lender. Lender shall apply, mr.laW - than immediately prior to the sale of the Property or its wNuisition by Lender, any Funds held by Lender at the tithe of application as a credit against the sums secured by this Security Instrument. & Applieatisa of Psyta esta. Unless applicable Iaw pravulm. otherwise, all payments received by lender under paragraphs l and 2 "I be applied- Ant, to late charges dwne under t3t,t• Note; second. to prepayment charges due unbar. the Note„ third, to amounts payable under paragraph 2; fownb„ to interest due; and last. to principal due- 4. Charglsr, LMas. Borrower shall pay all tsxm assessments. charges, fines and impositions attributable ter the Property which may attain priority. over this Security Instrument, and lasehold payments or gfound.. renm if any. Rot rowee shall pay these obligations in the scanner provided in paragraph 2, or if not paid in that mairm, Borrower scull pay them on time directly to the person owed payment. Borrower shall promptly furnish to Leader all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender Borrower shall promptly discharge any Lien which has priority over this Security Instrument unless Borrower. (a) agrees in writing to the payment of the oblipiwn secured by the lien in a mannaaeceptable to Lender, (b) contests in good faith the lie—ti I.y, or .w«ul.:pLm enfnmxnApnt of the tins in ter! eraoeedina which in the Lender's opinion, operate to prevent the enforcement of the lien or farffiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordittratfng the lien to this Security instrument. If Lender determines that any-part of the Property is subject to a lien which Wray iittain priority over this Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shalf.satzsfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Hassird Tawrasee. Borrower sWi keep the improvemertts now existing or hereafter erected an the Property insured against loss by fire, hazards included within the term "extexrded coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained.' in. the amounts and for the periods; that Lender requires. The insurance carrier providing the insurance shall be chef m by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and venewalit shall be acceptable to Lender and shall include a standard mortgage clause. Lander stall have the tight tia, hialdt,he.pWicies and renewals. If Lender requires, Borrower shall promptly give to Lender aU receipts of paid pmniumnsaact renewal notion. In theevent of law. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unlace lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property dimaged. if the restoration or repair is economically feasible and Lender's security is not Lessened. if the restoration or repair is not economicafly feasible onto ader's security would be lessened. the insurance proceeds shall be applied to the sums awwod by. this Security Instrurntmi. whether or not then due. with any excess paid p Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carver has mated to wile a claim. then leader may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Swurity Instrument. whether on not then due. The 330-day period will begin when the notice is given. . Unless Larder and Borrower otbm wise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lander to the extent of the sums secured by this Security Instrument immediately prior to the scquizition. f. Praser►atioa sail Maiates once of Pro", Lemehohls. Borrower shall not destroy, damage or substantially change the Property, allow' the Property to determnee or commit waste. if this Security Instrument is on a leasehold. Borrower dull comply with the provisions of the lease, and if Borrower acquires fee title to the Property. the leasehold and fie title shaif not merge unless Lender agrees to the merger in writing. 7. Prseactian of LanWe Rids is the Property; Mortgage Insurance. if Borrower fatltf to perform the covenants and agreements contained in this Security instrument, or there is a legal proceeding that may significantly affect Leader's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or to enforce laws or regulations). then Lender may do and pay for whatever is necesury to protect the value of the Property and Lender's rights in the Property Lender's actions may include paying any sums secured by a hen which has prsonty over this Security Instrument. appearing in court. paying reasonable attorneys' fees and entering on the Property to shake repairs. Although Lender may take action under this paragraph 7, !.ender does not have to do so Any amounts disburser! by Lender under this paragraph 7 shall become additional debt of narrower secured by this Security Instrument Unless Rorrower and lender agree to other terms of payment. three amounts %hail bear interest from the dolt of di%huwmeni at the 'dote rate and shall use payable, with imcfesi. uix-in notice from I ender us Wrrower requeslirs payment -1